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InVivo Therapeutics to sell stake in company; shares drop

pharmafile | March 15, 2016 | News story | Business Services, Manufacturing and Production, Research and Development, Sales and Marketing |  InVivo Therapeutics, Stake sale, stocks 

InVivo Therapeutics (Nasdaq: NVIV) said it plans to sell an additional stake in the company to raise funds for its ongoing clinical trials.

The clinical-stage biotechnology company said it plans to float a public offering of stock and warrants, packaged as units. No details about the pricing, volumes and terms were disclosed.

The company said the proceeds will also be used for general corporate purposes.

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Shares in the company closed down $0.43 to $8.65 on the Nasdaq.

Anjali Shukla

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